The EFL are currently conducting an investigation while Watford say they today completed their own preliminary investigation from a firm of solicitors.

Chief Executive Scott Duxbury confirmed, in a joint statement with Gino Pozzo, that he will take over as Executive Chairman.

The pair said: “We share your [the fans’] pride at the progress the club has made over the past four years and we will not allow its name to be tarnished by the incident brought to light last week.

“Today the preliminary investigation from a firm of solicitors into that matter was completed and the findings will be sent to the EFL.

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“We can assure every supporter the club acted with honesty, integrity and in good faith at every step and is not guilty of any wrongdoing and we are sure this will ultimately be recognised.

“We note today that Raffaele Riva has stepped away from his position as Executive Chairman and we wish him well in his future endeavours. Scott Duxbury will now assume this role and be appointed Executive Chairman with immediate effect.”

Watford moved up to 7th in the Premier League, above Man United, with a 1-0 win over Hull last weekend, so this investigation comes at the worst possible time.